Securities Broker Wil Rodriguez Involved In Wells Fargo Client's Dispute About Alleged Unauthorized Transactions
Soreide Law Group comes to you with new information concerning Wells Fargo securities broker Rodriguez AKA “Wil Rodriquez” and “Wilfredo Rodriguez Jr.” (CRD# 2504369, Boca Raton, Florida). The Financial Industry Regulatory Authority (FINRA) BrokerCheck profile on Rodriguez shows that two investors filed disputes about his sales practices. Also, FINRA barred Rodriguez as a securities broker for violating investigation-related rules. Here’s a closer look at these disclosures and what you could do if you experienced losses from sales practice violations.
Wells Fargo Advisors Alleges Unauthorized Transactions Involving Wil Rodriguez
Evidently, Wil Rodriguez worked as a Wells Fargo Clearing Services securities broker from July 2002 to August 2018. It appears that a client of Wells Fargo Advisors came forward with a dispute about Rodriguez’s sales practices. First of all, the client alleges forgery of documents. Secondly, Rodriguez supposedly executed withdrawals without authorization. Thirdly, the client alleges that the advisor “misappropriated assets” and concealed activity by “falsifying financial statements.” Allegedly, the client sustained losses because of Rodriguez’s actions. For this reason, Wells Fargo agreed to resolve this matter by paying $2,550,000 to the client.
FINRA Bars Rodriguez As Securities Broker
Notably, FINRA indefinitely barred Wil Rodriguez as a securities broker for allegedly violating FINRA rules. Basically, when a broker is under FINRA investigation, they may have to satisfy FINRA’s requests for information and documents or testimony. In Rodriguez’s case, FINRA asked Rodriguez for information concerning conversion allegations. Specifically, Wells Fargo’s termination notice (a Form U5 that Wells Fargo sent FINRA) shows that Wells Fargo discharged Rodriguez because of unauthorized activities.
According to Wells Fargo, Wil Rodriguez moved the client’s money between their accounts so that Rodriguez could “retain his international financial advisor status.” FINRA did not get to the bottom of the investigation because Rodriguez purportedly refused to cooperate. Because of this, FINRA prohibits Rodriguez from taking a position as a securities broker for any FINRA-member firm. Rodriguez is not allowed to associate with FINRA firms in any capacity effective October 2018.
Citicorp Investment Services Client Alleges Unsuitable Investments
Evidently, a client of Citicorp Investment Services disputed Wil Rodriguez’s actions, according to a complaint. The client claims that they wanted safe investments. It appears that the client sustained damages on mutual fund investments. However, Citicorp denied the client’s complaint.
Did You Face Harm Because Of Wil Rodriguez?
Did securities broker Wil Rodriguez cause you to suffer investment losses? If so, call Soreide Law Group at (888) 760-6552 and speak with a skilled securities lawyer regarding a possible recovery of your losses. Soreide Law Group represents clients on a contingency fee basis and advances all costs. The firm has helped many United States investors recover compensation when they have unreasonably incurred losses on their investments. Please note that Rodriguez denies all allegations of sales practice violations.
